The private investment firm Sun Capital Partners yesterday said it has acquired the protective body armor firm Point Blank Solutions, Inc., adding another company to its ballistics protection portfolio.
Terms of the deal were not disclosed. Point Blank filed for bankruptcy in April 2010 and in July of that year announced that it would explore its strategic alternatives.
Sun Capital was the successful bidder from the bankruptcy sale.
Point Blank designs and produces body armor systems for the United States Military, government and law enforcement agencies, and certain international customers. The company also makes the Interceptor Outer Tactical Vest that is worn by U.S. soldiers.
The Point Blank acquisition follows closely on the heels of another purchase last month by Sun Capital portfolio company Protective Products Enterprises of MSA’s [MSA] ballistic vest business (Defense Daily, Oct. 17.). The ballistic vest business, known as Paraclete Armor and Equipment, makes tactical ballistic vests for law enforcement and military customers.
“With Protective Products Enterprises, Paraclete, and now Point Blank Body Armor and PACA Body Armor, Sun Capital is proud to own some of the most trusted brands in the industry,” Brian McGee, vice president at Sun Capital, said in a statement. “These companies have great potential, offer unique and differentiated products, and are privileged to serve some of the world’s most important customers.”